Foundation History
A.C. “Cap” Ratshesky
Abraham C. Ratshesky was born in Boston in 1866, the son of Jewish
immigrants. In 1895, at the age of 30, “Cap” and his brother
Israel founded the United States Trust Company. This “Jewish”
bank, the first in Boston, responded to the needs of the rising immigrant
population by providing access to capital and banking services not otherwise
available to these individuals.
Cap was a social activist and understood the power of political persuasion. He was a member of the Massachusetts Republican State Committee, a delegate to the Republican National Convention in 1904, and a representative in the Massachusetts State Legislature. From 1930 to 1932, Cap served as the United States Minister to Czechoslovakia.
Cap was also a philanthropist. He was among the founders of the Beth Israel Hospital, and donated the building in which the Boston Chapter of the American Red Cross was first headquartered. Cap played a prominent role in the "Halifax Disaster." On the morning of December 6, 1917, two ships collided in the harbor at Halifax, Nova Scotia. One of the ships was loaded with war munitions and exploded, leveling much of the city and killing or injuring thousands. Upon learning of the disaster, Cap helped organize and finance an emergency relief effort. This team of doctors and nurses along with medical supplies and equipment was dispatched to Halifax on a special train and, as a direct result of this initiative, hundreds of lives were saved.
In appreciation, the City of Halifax presented a large evergreen to the City of Boston the following year, a tradition that continues to this day. This annual gift from the citizens of Halifax is designated as Boston's "official" Christmas tree, and is erected each Christmas season at the Prudential Center.
In 1925, the U.S.S. Constitution, "Old Ironsides," was in danger of being
decommissioned by the United States Navy. Congress subsequently authorized
restoration of the ship with the provision that the required funds be raised
by popular subscription.
Cap assumed a leadership role in organizing a nationwide "Pennies Campaign"
in conjunction with this effort. The campaign, which was conducted among school
children throughout the country, raised more than $150,000 in small donations.
In addition to his involvement in initiating the "Pennies Campaign," Cap served
as its treasurer.
The A.C. Ratshesky Foundation
Cap established the A.C. Ratshesky Charity Foundation on February 10, 1916
in celebration of his fiftieth birthday. In 1930, the name was changed
to the A.C. Ratshesky Foundation. The following is an extract from the
original Declaration of Trust,
I desire that this Foundation may be a beginning for the sympathetic trust of other men and women. And, because life is of such short duration, and those services he may do for his fellow man are so few at best, I deem it a privilege to be allowed to give during my lifetime.
It is my fervent prayer that this Foundation may be a blessing as well
as a gift to all those whom in reaches.
Throughout his life, Cap worked to remove the barriers to economic and social justice for Jewish and other immigrant groups. He was proud of his accomplishments, and he was profoundly grateful for the opportunities, which had enabled him to pursue his dreams.
As an entrepreneur, Cap was dedicated to action and self-determination. It was his firm conviction that all people had a right to acquire the skills necessary to become full participants in our democratic society. Through this participation, Cap believed individuals were empowered to make decisions not only about their own futures, but also about the futures of the communities in which they lived.
Today, his life and the force of his personality continue to inform the grantmaking
philosophy of the A.C. Ratshesky Foundation.
Grants Management Associates